News briefs

A private-equity firm said yesterday that it will buy the owner of the Carl's Jr. and Hardee's restaurants for about $619million in cash.

CHICAGO

Owner of Hardee's sold to private-equity firm

A private-equity firm said yesterday that it will buy the owner of the Carl's Jr. and Hardee's restaurants for about $619million in cash.

Thomas H. Lee Partners, a Boston firm that's one of three investment firms that bought Dunkin' Brands Inc. in 2006, made the deal to buy CKE Restaurants Inc. at a time when the fast-food chains' sales are falling.

Lee Partners also will assume about $309 million in debt from CKE.

CKE shareholders will receive $11.05 in cash for each share they own. That's a premium of 24 percent over its Thursday closing price of $8.91. Shares jumped 28 percent to close at $11.37 yesterday.

WASHINGTON

Toyota managed to avoid recalling Siennas in 2008

Toyota in 2008 succeeded in blocking a formal recall of Sienna minivans linked by government regulators to 98 injuries caused by collapsing liftgates, according to company and federal documents.

Instead of issuing a recall under the U.S. Safety Act, Toyota wrote to owners of 196,222 Sienna vans offering to replace struts on the liftgates as part of a "safety-improvement campaign" without acknowledging a defect. The National Highway Traffic Safety Administration accepted the response and stopped pressing for a costlier recall, agency documents show.

WASHINGTON

FDIC closes two banks in Nevada, Washington

Regulators shut down banks in Nevada and Washington yesterday, marking the 21st and 22nd failures this year of federally insured banks.

The Federal Deposit Insurance Corp. was appointed receiver of Carson River Community Bank, based in Carson City, Nev., and Rainier Pacific Bank in Tacoma, Wash.

BROOK PARK, OHIO

Mustang engines mean more jobs at Ford plant

The Ford Motor Co. announced yesterday that it is investing $155 million and adding 60 jobs at an engine plant in suburban Cleveland to build a fuel-efficient V-6 engine for the 2011 Mustang.

The engine is expected to lead its class in fuel efficiency, achieving 30 miles per gallon on the highway and 305 horsepower, the Dearborn, Mich.-based automaker said.

- From wire reports

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